The American Banking News reports that Virgin Money has wound down their U.S. operations, including their student loan business. Virgin had a Handshake Plus product and Student Payback product that facilitated borrowing between family members by creating a promissory note between the two parties while also servicing the loan too. Their website is now only offering the Handshake Basic product only which "makes setting up a private loan with friends and family easy and official." It appears to help borrowers draft a promissory note but doesn't have servicing component.
Here is some other information from the American Banking news article:
"Recently Virgin Money laid off 80% of their staff and removed the sign from their office. The company has also all but eliminated their loan servicing and outsourced all of their previous issued loans to a third-party loan servicer."
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